Shopify, the ecommerce giant is causing a stir in the Web3 community! The popular platform has revealed that it will be integrating the Web3-Login standard, “SIWE” (Sign-In With Ethereum) into the Shopify platform.
Shopify made this announcement recently on Twitter recently, and it’s great news for both the ENS and Web3 community. These new tools will make it easier for Shopify merchants to build tokengating apps that connect to expanded crypto wallet features.
The best part is that the tokengating application programming interface (API) tools are now available to all applicable Shopify merchants. This tool allows merchants to dictate which tokenholders can and cannot gain access to exclusive products, NFT drops, and benefits. So if you’re a Shopify merchant, you can use tokengating to reward certain users and add exclusivity to specific products.
This is a significant development for the Web2 giant Shopify, and also, for the wider blockchain-Web3 ecosystem! This Web2-to-Web3 ecommerce-enhancement delivers the practical tools for “any business, organization, project, or club” to “access and leverage Web3-and-NFT features”.
While SIWE will give Shopify users a “more secure login-authentication”, with control over their user name (via their ENS/Web3 identity), Shopify is paving the way for users to have practical access to Web3 features, such as: minting NFTs, token-gated access restrictions, and other Web3 rewards, (using Shopify’s user-friendly Web2 platform).
— sadaf.eth (@sadaf_eth) February 10, 2023
What is SIWE?
SIWE is a decentralized authentication system based on the Ethereum blockchain. It allows users to securely sign in to websites and applications using their Ethereum wallets.
This provides a more secure and private alternative to traditional authentication methods, which often require users to share personal information such as email addresses or phone numbers.
The integration of SIWE into all systems is expected to revolutionize the way users sign-in to “any Web2 or Web3 platform.
This is because SIWE shifts the many methods for “wallet connect/connect wallet”, and goes beyond by setting the protocol standard for “wallet authentication”, which is EIP-4361 (SIWE).
How Does SIWE Integration Benefit Shopify Users?
By integrating SIWE, Shopify users can now enjoy a range of benefits. For starters, the new authentication process is more secure than traditional methods, as it eliminates the need for users to share personal information. This means that users can now sign in to their Shopify accounts without the fear of their personal information being compromised.
In addition, the new authentication process is also more user-friendly. With SIWE, users can sign in to their Shopify accounts with just a few clicks, eliminating the need for them to remember complex passwords or go through a lengthy verification process.
Shopify outlines how to get set up with connecting your wallet to your Shopify account, and start integrating SIWE in your online shop in this tutorial.
The team that made it happen will be joining us!
Set your reminder so you don’t miss the Space! https://t.co/hmoqkH2aDn
— ens.eth (@ensdomains) February 14, 2023
What are the Implications for Ecommerce?
The integration of SIWE demonstrates the potential of blockchain-based authentication systems. As more ecommerce platforms adopt similar systems, we can expect to see a shift towards more secure and private authentication methods.
In addition, the use of blockchain-based authentication systems could also help to reduce the prevalence of fraud and data breaches in ecommerce. By eliminating the need for users to share personal information, these systems can help to prevent hackers from accessing sensitive data.
How Does the Integration Benefit the ENS?
The integration of SIWE is especially significant for the wider adoption of ENS, as it showcases the practical use case of blockchain-based authentication systems.
One of the biggest challenges facing the adoption of decentralized systems is the issue of user experience. For many users, the process of using blockchain-based services is confusing and intimidating, as it often requires them to navigate unfamiliar technical terms and processes.
By integrating SIWE into its platform, Shopify is helping to bridge this gap by providing a user-friendly authentication process that leverages the power of the Ethereum blockchain.
This move is expected to not only encourage more users to adopt ENS-based authentication systems but also introduce many Web2 users to Web3 technology. As more platforms adopt ENS-based authentication systems, we can expect to see a snowball effect in which the adoption of these systems becomes more widespread and normalized.
Additionally, the integration of SIWE by a high-profile platform like Shopify is likely to attract more developers and entrepreneurs to the ENS ecosystem. This, in turn, will accelerate the development of new applications and use cases for ENS, as developers are incentivized to build on a more established and widely adopted platform.
.@Shopify integrating "Sign-In With Ethereum" (#SIWE/#EIP4361)➡️ Allows any Web3 Site/App to not-only "Connect Wallet", but ALSO the "Authentication" of Web3-Wallets, (for users to get-access & sent payments). This should cause an explosion of dev-work for #Web2 w #Web3! $ENS https://t.co/La31fo2x0O
— GaryPalmerJr.eth.limo 👁 2223.eth 🌱🐇 (@garypalmerjr) February 10, 2023
The integration of SIWE by Shopify is a significant step forward for the wider adoption of blockchain-based systems. By showcasing the practical applications of this technology, Shopify is helping to pave the way for a more secure, private, and user-friendly internet, in which users have greater control over their personal data and online identities.
As more ecommerce platforms adopt similar systems, we can expect to see a shift towards more secure and private authentication methods, which can only be good news for consumers and businesses, in Web2 and Web3 alike.